Needle Still Points South *RES.....>

DOLLAR-YEN TECHS: Needle Still Points South

*RES 4: 109.38 High Apr 6

*RES 3: 108.59 High Apr 10

*RES 2: 108.08 High Apr 16 and 17 and key resistance

*RES 1: 107.18/50 20-day EMA / Apr 30 Recovery High

*PRICE: 106.42 @ 05:57 BST May 8

*SUP 1: 105.99 Low May 6 and 7 low

*SUP 2: 105.81 Low Mar 17

*SUP 3: 105.21 61.8% retracement of the Mar 9 - 24 rally

*SUP 4: 104.51 Low Mar 13

USDJPY traded firmer Thursday, but remains bearish. The pair stalled at 107.50

on Apr 30 and has since pulled back. On Wednesday price traded through 106.36,

Apr 30 low. The break reinforces bearish conditions supported too by MA studies

that continue to point south. Attention is on the next objectives at 105.81, Mar

17 low and 105.21, the 61.8% retracement of the Mar 9 - 24 rally. Key short-term

resistance remains 107.50, Apr 30 high.